Commerce is one of the main human activities towards the development of economy across the globe. The importance of trade are plentiful and varied, primary it allows individuals to own products and service that it could not be finding in the local market, it also allows to trade the goods that countries are specializing on, and it allows humans to be in interaction with other societies. Every country has developed diverse products and services, depending on the factors that favor their situation like weather, location, education, and development. Hence it is necessary to trade these goods, in order to give people the opportunity to enjoy products that are not produced in their local country and vice versa.
Therefore trade is a key factor for individuals, development of countries and growth of the economy. Hence countries have made an emphasis on the importance of having Free Trade Agreements between them. The process of trade, which involves imports and exports among nations by having Free Trade Agreements they can exchange with affordable prices their goods or services. Hence with commerce people can access all kind of products; for instance, people in South Korea with a Free Trade Agreement in South American countries opens the opportunity for Koreans to enjoy products like fruits and Latin America people can have access to cellphones or Televisions made by Korean companies.
Furthermore, Ecuador is a country rich in its biodiversity and it has certain products that South Korea does not have, at the same time Korea has products that Ecuador requests like technology and developed goods.
Currently Ecuador and South Korea don’t have a Free Trade Agreement, thus the main matters encountered in this research is that there are a lot of products that Ecuador is looking forward to export to Korea, however, because there is not an agreement the tariffs are high especially compared with neighbors countries that have already signed a Free Trade Agreement with Peru, Chile and Colombia. Therefore this thesis studies the exports process since the year 2000 from Ecuador, Chile, and Peru, to South Korea, by doing a comparative analysis of how the exports of Ecuador would be to Korea if both nations sign a Free Trade Agreement.